CRNX is no longer listed. Its last trade on record was Sep 2, 2026. The price and figures on this page are from its last trading day and final filings, and are no longer updated.
Latest Ratios: P/E Ratio N/A · EV/EBITDA N/A · ROE N/A. (2016–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | — | $4.4B | $4.1B | $2.1B | $951M | $1.1B | $430M | $607M | $364M | — | — |
| Enterprise Value | — | $4.3B | $3.9B | $2.1B | $922M | $895M | $341M | $572M | $319M | — | — |
| P/E Ratio → | — | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | 568.91 | 3975.39 | 514.87 | 200.82 | 1012.96 | 6051.00 | 508.42 | 149.97 | — | — |
| P/B Ratio | — | 4.41 | 3.12 | 3.83 | 3.01 | 3.29 | 2.54 | 5.18 | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 562.03 | 3770.56 | 514.08 | 194.57 | 830.51 | 4796.45 | 479.29 | 131.45 | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | 86.0% | 100.0% | 100.0% | 100.0% | 100.0% | -80178.9% | 6.7% | -908.2% | -351.5% | -765.9% |
| Operating Margin | — | -6714.8% | -32613.5% | -5547.2% | -3544.1% | -9990.9% | -105567.6% | -4512.3% | -1182.5% | -446.3% | -1026.1% |
| Net Profit Margin | — | -6046.2% | -28720.7% | -5345.9% | -3460.4% | -9985.3% | -103960.6% | -4152.1% | -1116.8% | -447.8% | -1021.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | -40.2% | -32.0% | -50.2% | -50.6% | -43.0% | -51.6% | -134.3% | — | — | — |
| ROA | — | -36.2% | -28.8% | -43.4% | -46.6% | -40.3% | -47.0% | -32.8% | -29.0% | -65.0% | -47.8% |
| ROIC | — | -37.8% | -30.8% | -40.6% | -59.7% | -75.1% | -69.3% | — | — | — | — |
| ROCE | — | -42.6% | -34.5% | -48.6% | -50.9% | -42.4% | -50.8% | -37.7% | -32.2% | -69.1% | -51.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | 0.05 | 0.04 | 0.10 | 0.01 | 0.01 | 0.02 | 0.05 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.05 | -0.16 | -0.01 | -0.09 | -0.59 | -0.53 | -0.30 | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — | -1143.63 | -546.18 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | — | 12.32 | 23.04 | 13.07 | 12.45 | 21.55 | 16.92 | 14.79 | 21.03 | 16.91 | 13.89 |
| Quick Ratio | — | 12.30 | 23.04 | 13.07 | 12.45 | 21.55 | 16.92 | 14.79 | 21.03 | 16.75 | 13.78 |
| Cash Ratio | — | 12.08 | 22.69 | 12.71 | 12.06 | 20.86 | 16.29 | 14.20 | 20.68 | 15.82 | 13.65 |
| Asset Turnover | — | 0.01 | 0.00 | 0.01 | 0.01 | 0.00 | 0.00 | 0.01 | 0.01 | 0.13 | 0.05 |
| Inventory Turnover | — | 0.53 | — | — | — | — | — | — | — | 65.48 | 52.04 |
| Days Sales Outstanding | — | 28.08 | 2975.51 | 850.51 | 186.85 | 687.00 | 9423.17 | 421.60 | — | 131.01 | 44.62 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $94M | $81M | $58M | $52M | $38M | $30M | $24M | $12M | $14M | $14M |
Includes 30+ ratios · 10 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying CRNX stock.
Based on historical data, Crinetics Pharmaceuticals, Inc. is trading at valuation metrics that vary. Compare with industry peers and growth rates for a complete picture.
Key Metrics
Top Statement Risk
Cash runway under 12 months
Metrics are mathematically derived from official filings.
Liquidity Masked by Burn Rate
Despite a current ratio of 15.57 in 2026Q2, cash of $55.5M against a quarterly operating loss of $132.5M suggests less than one year of runway, per balance sheet data.
The current ratio appears robust, but it is inflated by the absence of near-term liabilities relative to the scale of ongoing R&D spending. The quick ratio of 15.53 indicates minimal inventory dependence, yet the cash balance is being consumed at a pace that implies imminent financing needs. Investors should monitor the trajectory of cash burn relative to the reported $101.5M cash figure, which may be dated, as the latest quarter shows a sharper decline.
Working Capital Distortions
The cash conversion cycle of -5752 days in 2026Q2 reflects extreme DPO of 7719 days, likely due to milestone timing, not operational efficiency, as reported in quarterly data.
The negative CCC is a statistical artifact of very high days payable outstanding, which likely stems from the timing of clinical trial invoices and milestone receipts rather than supplier leverage. DSO of 32 days is minimal, but the revenue base is negligible, so these metrics offer little insight into operational efficiency. The extreme swings in DIO and DPO across quarters suggest that working capital metrics are not yet meaningful for a pre-commercial biotech.
Negative Returns on Pipeline Investment
ROIC has hovered between -8% and -12% over the past ten quarters, reflecting consistent capital deployment into R&D with no commercial return, as per financial statements.
The negative ROIC is expected for a clinical-stage company, but the stability of the metric suggests that capital is being deployed at a consistent rate relative to the asset base. The slight improvement in 2026Q2 to -8.3% from -10.3% in 2025Q4 may indicate a temporary boost from milestone revenue, but the underlying trend remains one of value destruction until approval. The asset-light model means ROIC is driven by the intangible pipeline value, which is not captured in book values.
Minimal Debt, Equity Dilution Risk
With a D/E ratio of 0.04, CRNX carries negligible debt, but the real leverage is equity dilution, as cumulative losses of $1.7B and SBC erode shareholder value, per balance sheet data.
The absence of meaningful debt and interest coverage issues is a positive, but it obscures the fact that the company is financing operations through equity issuance. The stable D/E ratio of 0.04-0.06 over the past ten quarters indicates no new debt, yet the cash burn implies that future financing will likely be dilutive. Investors should focus on the pace of share count growth rather than traditional leverage metrics.
Margins Distorted by Milestones
Gross margin near 100% is an artifact of milestone revenue with negligible COGS, while operating margin of -5.3% in 2026Q2 still reflects massive R&D investment, as reported in financial statements.
The gross margin is not indicative of future commercial profitability, as it is based on collaboration payments rather than product sales. The operating margin improvement from -997% in 2025Q3 to -5.3% in 2026Q2 is driven by a one-time revenue spike, not operational leverage. The true earning power will only emerge post-approval, and current margins should be viewed as meaningless for valuation purposes.
Misapplied P/S Multiple
The P/S ratio of 1162.67 is commonly misapplied to CRNX because revenue is milestone-based and non-recurring, obscuring the true value driver of pipeline potential, per reported figures.
For a pre-revenue biotech, price-to-sales is a misleading metric as it capitalizes a revenue stream that is not sustainable or indicative of future cash flows. Analysts should instead use EV/EBITDA or, more appropriately, a risk-adjusted net present value (rNPV) of the pipeline, which accounts for the probability of approval and market size. The current valuation likely reflects the market's confidence in Paltusotine's Phase 3 success, not the trailing revenue, making P/S an irrelevant comparison.